Haiku - fiscal crises

This week's financial markets are permeated by anxiety about government's commitments to their obligations. It is happening in Britain, Hungary, and Spain; in fact, even France's CDS spreads are at an all-time high. America may be the safest place to park your dollars currently, but if the bond/deficit hawks return then we may not be spared from the microscope.

A haiku:

Pass the buck forward,

Hairy decisions postponed,

Need Harry Truman.

If you don't get it, Harry Truman was the President that popularized the phrase, "the buck stops here." This being said I'm not an anti-Keynesian or against government spending. But the day when S&P or Moody's cuts your rating or your CDS spreads blow out or you have a bond auction fail is a whole budget cycle too late. Operating in the budget world right now, I've learned that it takes a long time to turn the ship. And I wonder if our current leaders have the forsight or the Trumanesque determination to make hard choices.